The fund will invest in cryptocurrency startups across the world and in all stages, with a broad focus in the social, gaming, fintech, software and healthcare industries
will invest in cryptocurrency startups across the world and in all stages, with a broad focus in the social, gaming, fintech, software and healthcare industries., FTX has tapped crypto investor Amy Wu, a former partner at $10 billion investment firm Lightspeed Ventures, to head up the fund and lead its eight-person team.
In a statement, Wu said she's"particularly excited about web3 gaming" and its potential to break into mainstream entertainment; she’s previously led multi-million-dollar investments in blockchain software company Alchemy and crypto-gaming studio Faraway. Wu said the fund, which has yet to announce any investments, will write checks ranging from $100,000 to hundreds of millions of dollars.The explosion in value of cryptocurrencies during the pandemic has ushered in a wave of record investments for the booming space. Venture capital firms poured a record $30 billion into cryptocurrency startups in 2021, roughly seven times the volume one year prior, according to PitchBook.
the biggest cryptocurrency venture fund ever, surpassing the $2.2 billion raised by Silicon Valley monolith Andreessen Horowitz just five months earlier. Since its launch just two years ago, Bahamas-based FTX has quickly grown into one of the world’s largest cryptocurrency exchanges, consistently ranking among the top five busiest by trading volume, according to
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